Forecast Lessons from the Past and for the Present
Earlier today, the UCLA Anderson Forecast conference presented its quarterly projections of the U.S. and California economies. No surprises. There was a continued forecast (from earlier conferences) of sluggish growth with years to go before what can be truly seen as a return to “normal” occurs. You can find a media write up at: http://business-news.thestreet.com/daily-news/story/ucla-forecast-economy-lag-3-more-years-high-unemployment-slow-growth-impede-progress/1 An official media release from the Forecast is at:http://uclaforecast.com/contents/archive/2012/media_62012_1.asp The Forecast reminded me of two lessons that can be drawn from recent developments. The first – from the past – is that there is an underlying problem in California which can be seen in two charts…